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tv   Business - News  Deutsche Welle  October 16, 2018 3:02am-3:15am CEST

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the question everyone is asking so do you or sorted investments saudi arabia's image among business leaders is under question following the disappearance of a prominent journalist. also on the program of the amazon off the nineteenth century after one hundred thirty two years in business sears becomes the latest us brick and mortar retailer to go to the wall. and the final months ago. president of a small russian town wonder if the world cup expense was really worth it. for business on the w m how you know it's good to have you with us when you first heard about the news washington post journalist potentially being killed in turkey you probably didn't figure this would trigger economic turmoil but the case of jamal khashoggi is making some companies reconsider their business ties with saudi
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arabia riyadh is already walking a fine line and it's international relations but at the same time the country is rolling out the red carpet to foreign investors for its latest financial conference . this is saudi arabia as it wants to be seen modern and open but with businesses pulling out of the future investment initiative that image is becoming harder to maintain. allegations of saudi involvement in the death of journalist. putting pressure on the kingdom's leader thirty three year old mohammed bin. he's the face of saudi arabia's reform story its investment project and its openness to foreign investment. billionaire businessman richard graham suspended negotiations to acquire a billion dollar stake inside the space venture shares of japan's softbank where billions in saudi soften wealth are invested also suffrage the kingdom stocks and currency took a tumble after trump threatened severe punishment for any involvement in the
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disappearance of some analysts say the economic impact of a deterioration relationship with the u.s. could be significant. possibility of science hands on the you know the flooding sanctions around is no joke we're talking about impact on the a not only saw they're talking about the regional talking globally for even for the us itself there are a lot of for between companies maybe such as rolling saudi wraps other companies as well as companies definitely. looking to be broken if that happens the loss of jobs so the unemployment rate the economic toll that this could take is just beyond it is beyond expectations saudi arabia says it will be bullied as the world's largest producer and exporter of oil it's also suggested it could force prices up in response to any punitive actions against us a forceful response but almost certainly not the one businesses were hoping for. and arounds oil exports fell last month as businesses prepared for the
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reintroduction of u.s. sanctions iranian president hassan rouhani downplayed the risks to the sector saying the sanctions will have no effect this comments come as iran grapples with an economic crisis that's seen its currency plunge to historic lows earlier this month the price of oil hit its highest points since twenty fourteen. to the u.s. now we're serious the once dominant retail chain that changed how americans shopped and lived as filed for bankruptcy the one hundred thirty two year old company has been struggling for several years and is drowning in debt the final straw was a one hundred thirty four million debt payment due monday sears is among dozens of prominent retailers to declare bankruptcy in the amazon or. think of sears as the amazon of the last century its mail order catalogs were a sensation introducing many americans to mass produced goods for the first time.
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eventually sears became the largest retailer in the country and one of its biggest employers sears helped transform america's shopping habits drawing customers in their cars to the fast network of shopping malls shooting up around the country in the one nine hundred seventy s. but over the years sears has had more products than customers as it was outfoxed by specialist retailers which he didn't price in convenience and it made a number of strategic errors including the acquisition of the ailing k.-mart chain it's not really a place where people have been buying lots of things for a long time in fact probably the decade when it decade ago when it came out and see it's merged i remember saying to have stuff to make a hole and it's really been that kind of gradual dripping away of a business. sears has been closing stores that are breakneck pace all year but it says it is looking for a buyer for the seven hundred that remain open. many observers now say that even
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a bankruptcy will fail to save the once trusted sears name and that the company is likely to follow a number of other recent u.s. store chains into the retailers graveyard. for more i'm now joined by our financial correspondent at the new york stock exchange and it's good to see you yes well let's see the options for sirius is there any chance for the company to somehow bounce back under chapter eleven for example. well brick and mortar is certainly a business that is not easy to be in but it is not entirely impossible to get out of this bankruptcy process said some point what they're trying to do right now is to get rid of as many as possible profitable stores that will be a good one hundred forty store closers just within the next three months or so or they already have closed about three thousand stores in the past seven years and that
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alone didn't do the trick good results are dependent bids on one of the biggest shareholders and former c.e.o. eddie lampert a hedge fund manager who have billions of dollars into sears but also he couldn't save it so it will also partly depend if he still will be willing to give spend more money so it is not impossible but it's certainly not going to be an easy task and he does use comes in as the latest retail figures are also being published what's happening in the rest of the retail sector right now. well it's surprisingly weekend event for a second month in the role we saw in retail sales only increasing by a point one per cent and so maybe that is partly due because of hurricane florence sitting there southeast of the united states we saw especially sales in bars and restaurants but also in department stores dropping quite
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a bit overall analysts are still pretty optimistic that we will see a pretty good holiday season with unemployment rate being almost at their lowest rate in almost fifty years since quarter on wall street thank you very much for the analysis. authorities in germany are set to order a recall of one hundred thousand vehicles and they were found to be equipped with an emissions cheating device similar to the ones used by fox fox this comes as open . affronts raids in two locations a spokesperson for the carmaker has confirmed the raids but maintains the vehicles are in compliance with existing laws opened it was sold from general motors to france's p.s.a. last year. and anglo swedish from a suitable giant us that arsenic has suspended investments in britain due to the uncertainties surrounding brics it non-executive chairman leave johansson made the announcement in france's newspaper the company has reportedly spent forty five
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million euros stockpiling medicine in britain and central europe to prevent disruptions if the two sides failed to reach an agreement by march in a suitable companies have warned of medicine shortages in europe after breakfast. and the small town of southern skin russia is home to a shiny new soccer stadium built for the twenty eighteen world cup four games were played there but now the arena is looking like a costly white elephant it's not the first time venues for big sports events turn out to be a hassle after the lights go out. last training session ahead of a key game second division surrounds playing at home against course if surrounds wins it would help the club stem its do in bling gate count hopes hear a pin down thirty seven year old striker mohammad chin who also captains the team. the course game is important to us. top of the league right now on. the
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training ground and the new arena are only a few minutes drive apart it's never far to anywhere in a town of only two hundred ninety thousand people surrounds this new stadium cost two hundred forty million euros moscow the region and the town shared the costs ahead of the twenty eight world cup the tournament left a legacy of modern infrastructure in its wake. the arena. to. him is new and modern for players and spectators. we used to get fans at the games and now we get families with children coming to cheer. is the. syrians politicians were all for the town's world cup extravaganza they also drew up plans for the stadiums used after the final whistle. a practice the same the world over is that about going to stadium as a last make up it's only used for soccer. but also has to be used for a range of cultural and sporting events exhibitions that's the only way to make
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a stadium. surround the stadium gates only open nineteen times a year right now and only for soccer so many question the wisdom of all the expense . people here complain about the new stadium investment. not the government they decide where the money goes they could have spent it on schools or hospitals they don't let us decide. many and surround square happy with the old soccer stadium where the junior team trains a lot of those youngsters will be watching the professionals later in the new arena which office space for forty five thousand spectators. but most of the seats are empty. and no one sat in the sponsors boxes either. doesn't have enough companies for that things don't turn out well on the pitch either today or surrounds get a hammering. going to play well away we only lose at home we only play for our
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fans. it's questionable whether the town of surrounds will be able to afford its new stadium in the long term. the big. euro
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zone's alibi money is ranking plenty of good documentaries are so long there's. this week on here max means different. celebrities calling the shots. tomorrow night they're creating. your nights to disoblige. this week on talk. i'm not laughing out. loud because sometimes i am but most and nothing with a cup of anything stevens or jam a culture of. new dancing we're taking this drama day on the east coast it's all about who know i'm right so join me for me the gem of a beat up. forces are under pressure they're battling recruiting. outdated and broken down equipment and limited budgets.
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to challenge is a huge listener in us enough plainspoken enough enough transport helicopters are not enough tanks have televisions that don't have tanks. so no sourcing and privatization. when are the border of the day in all areas but not composed dangers place to sleep please finish we run the risk of becoming too dependent on private contractors who may not provide the services they promised to license every day that walker's own private sector businesses make more money with everything from reconnaissance drones to laundry facilities firms are going to treating the armed forces in france and germany playing terry industrial complex starts october twentieth on d. double.

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